AlphaQuest LLC Lowers Stock Position in Light & Wonder, Inc. (NASDAQ:LNW)

AlphaQuest LLC lowered its stake in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 90.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 355 shares of the company's stock after selling 3,361 shares during the period. AlphaQuest LLC's holdings in Light & Wonder were worth $31,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Quest Partners LLC bought a new position in shares of Light & Wonder in the 3rd quarter worth approximately $337,000. Commerce Bank lifted its position in Light & Wonder by 10.5% during the third quarter. Commerce Bank now owns 30,396 shares of the company's stock valued at $2,758,000 after buying an additional 2,887 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Light & Wonder during the 3rd quarter valued at $764,000. Cerity Partners LLC grew its position in shares of Light & Wonder by 222.1% in the 3rd quarter. Cerity Partners LLC now owns 13,042 shares of the company's stock worth $1,183,000 after buying an additional 8,993 shares during the period. Finally, Algert Global LLC increased its stake in shares of Light & Wonder by 118.5% in the 3rd quarter. Algert Global LLC now owns 61,606 shares of the company's stock worth $5,590,000 after acquiring an additional 33,410 shares in the last quarter. 88.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Light & Wonder

In other news, CEO Siobhan Lane sold 3,784 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $105.37, for a total value of $398,720.08. Following the transaction, the chief executive officer now owns 21,254 shares in the company, valued at $2,239,533.98. This represents a 15.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP James Sottile sold 2,356 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $105.54, for a total transaction of $248,652.24. Following the sale, the vice president now owns 77,331 shares of the company's stock, valued at $8,161,513.74. This trade represents a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,867 shares of company stock worth $1,037,884. Insiders own 2.10% of the company's stock.

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Analysts Set New Price Targets

LNW has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their price objective on shares of Light & Wonder from $103.00 to $110.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Macquarie raised their price objective on Light & Wonder from $122.00 to $125.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. Mizuho boosted their target price on Light & Wonder from $76.00 to $80.00 and gave the stock an "underperform" rating in a report on Wednesday, February 26th. Stifel Nicolaus increased their target price on Light & Wonder from $90.00 to $104.00 and gave the stock a "hold" rating in a research note on Wednesday, February 19th. Finally, Benchmark lifted their price target on Light & Wonder from $114.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Light & Wonder presently has a consensus rating of "Moderate Buy" and a consensus price target of $110.91.

Light & Wonder Stock Performance

Shares of LNW traded up $0.35 during mid-day trading on Tuesday, hitting $107.49. 567,926 shares of the company traded hands, compared to its average volume of 706,104. The stock has a market cap of $9.08 billion, a price-to-earnings ratio of 33.38, a P/E/G ratio of 0.35 and a beta of 1.59. The stock has a 50-day moving average price of $97.55 and a two-hundred day moving average price of $95.84. Light & Wonder, Inc. has a 1 year low of $84.00 and a 1 year high of $115.00. The company has a debt-to-equity ratio of 4.49, a quick ratio of 1.61 and a current ratio of 1.88.

Light & Wonder Company Profile

Light & Wonder, Inc is a cross-platform global games company, which engages in the development of content and digital markets. It operates through the following segments: Gaming, SciPlay, and iGaming. The Gaming segment includes the design, manufacture, marketing, and distribution of portfolio of gaming products and services.